Tulikivi and Hagos eG agree on distribution agreement for the Kermansavi collection in Germany and Austria

TULIKIVI CORPORATION, STOCK EXCHANGE RELEASE 17 JUNE 2022 AT 15.00 EET

Tulikivi signed an agreement with the German Hagos cooperative on the distribution of the Kermansavi collection in Germany and Austria. As part of its growth strategy, Tulikivi has updated its ceramic Kermansavi collection to meet the requirements of the Central European export markets. The ceramic fireplaces, made of 80 per cent recycled material, now meet the requirements of Central European consumers regarding design and usage habits and the emission and efficiency requirements of the new Ecodesign Directive. The agreement is strategically important because it opens an export channel for Tulikivi's ceramic products to one of the most important European fireplace markets. The German fireplace market is expected to develop favourably in the coming years due to legislation requiring that old fireplaces be replaced with new ones that meet the new emissions regulations.

Established in 1919, Hagos eG is a cooperative that is rich in tradition. It focuses on fireplaces and their accessories. It currently has about 1,400 owner-members and over 3,000 customers. Hagos have one branch office in Austria and nine branch offices in Germany. The owner-members of Hagos include fireplace bricklayers and specialist stores in the fireplace sector. Its net sales are over EUR 200 million annually.

“The cooperation agreement we have now signed with the strong German partner offers comprehensive distribution routes in a significant market area for the updated Kermansavi collection, which fulfils the requirements of the Ecodesign Directive. It will enable the market share in the German fireplace market to grow in the coming years,” says Heikki Vauhkonen, Managing Director of Tulikivi.

“We are very pleased with the trust that has been placed in us and the opportunity to gain distribution of Tulikivi’s Kermansavi product range in Germany. As a medium-sized company, Hagos has been a successful cooperative in the fireplace sector for over 100 years. The discussions with Tulikivi have shown that both companies have a shared commitment in the development of the fireplace and wood-burning sector. Kermansavi fireplaces are of very high quality, meet all the required technical requirements and complement our product selection with their clear-cut design. Hagos is pleased about the expansion of the product selection, and Tulikivi will benefit from Hagos’ knowledge of the sector and its market position in Germany. It’s a classic win-win situation!” says Ralf Tigges, Chairman of the Hagos eG, about working with Tulikivi.

TULIKIVI CORPORATION

Board of Directors

Further information: Heikki Vauhkonen, Managing Director, tel. +358 (0)207 636 555

Distribution: Nasdaq Helsinki
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